Saturday, August 2nd 2014 - 08:46 UTC

Brazilian media call Cristina Fernandez, “inept, arrogant and incompetent”

The leading Brazilian newspapers blasted Argentine president Cristina Fernandez as the sole responsible for the 'default event' which followed the failure of negotiations with holdouts in New York. This despite the fact Brazilian economy minister Guido Mantega denied Argentina was in default and strongly supported the Argentine government.

No mercy for Cristina Fernandez and the Marxist professor of populist heterodox economic policies

O Globo from Rio do Janeiro and Folha de Sao Paulo in their editorials did not heed in appealing to strong words to question the Argentine president's attitude which has triggered the current situation: “arrogance”, “ineptitude” and “incompetence”.

“The Argentine debt crisis is the outcome of much arrogance and lack of capacity in dealing with the creditors on the part of the Kirchners, both Nestor and Cristina. As well as a disastrous economic policy, populist and heterodox”, points out O'Globo in its editorial with the heading: “The ruinous performance of the Kirchnerite Argentina”.

The editorial also targets Economy minister Axel Kicillof, described as a “young Marxist professor” and points out that calling holdouts 'vulture funds' is ideological. Likewise hedge funds are “usual and necessary actors in world markets, since they help to give liquidity to bond rejected by investors”.

O Globo warns that the current situation will generate problems to access to foreign credit besides making more severe recession and inflation.

Folha de Sao Paulo also is concerned about the future of the Argentine economy. “The fall in consumption and measures to contain trade deficits will further diminish the already contracted Brazilian sales to Argentina that in the first half of 2014 have dropped 20%.

Brazil is Argentina's main trade partner and for Brazil the most important behind China, EU and US.

”Argentina is in recession, mostly because of economic populism. Without credit Argentina runs the risk of a payments crisis, since foreign trade does not offer the sufficient funds to address international debts. And if Argentina pretends credit in the domestic market it will have to pay exorbitant interests“, says Folha.

”It is not unlikely that political tension and some reduction in the already scarce foreign financing could force a strong devaluation of the currency and thus inflation and recession, plus interests“.

Folha finally points out that Brazil is far from following the same path as its neighbor and main Mercosur partner, and supports the current Brazilian administration policies of president Dilma Rousseff.

”She is far from being so inept as the Cristina Fernandez that Argentina supports”.
 

63 comments Feed

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1 Iron Man (#) Aug 02nd, 2014 - 09:20 am Report abuse
At last, a proper commentary on the situation rather than 'solidarity' - it makes no sense for other LatAm countries to offer unconditional support to Argentina, especially when it is in the wrong. Argentina is like a small child - unless you help it see right from wrong it's behavior will never improve.
2 Xect (#) Aug 02nd, 2014 - 09:47 am Report abuse
How they fall eh?

I recall about 2 years ago the Argentine commentators on here insistently calling England finished and proclaiming the power of the Argentine economy.

Still when its all said in done I don't agree with a bunch of private investors forcing a nation into default but its also worth pointing out that this was an avoidable situation but the powers that be in Argentina decided that grandstanding was more important than dealing with the problem.

It's yet another economic tragedy for the Argentine people. What a shame.
3 Britworker (#) Aug 02nd, 2014 - 10:16 am Report abuse
@2
“I don't agree with a bunch of private investors forcing a nation into default”

The indebted can't demand their unpaid lending back?
4 Anglotino (#) Aug 02nd, 2014 - 10:39 am Report abuse
“Brazil is Argentina's main trade partner and for Brazil the most important behind China, EU and US”

Behind China, EU and US!!!!

And dropping by the sounds if it. Hardly that important really.

Probably why Argentina's default isn't affecting anyone but Argentina.
5 ChrisR (#) Aug 02nd, 2014 - 11:01 am Report abuse
When the cards are shown we learn what the real facts are and it is good to see some newspapers calling it as it is.

The Liar Mantega is so incompetent himself that he continues to lie about the economy of Brazil and I am not so enamoured as the newspapers about their economy given the recent steep downturn and the portents for the future.

But I must admit to liking the headline. :o)
6 Mendoza Canadian (#) Aug 02nd, 2014 - 11:50 am Report abuse
When Greece and Italy faced economic problems just recently, they cut down on public spending...in today's paper mdzol.com there is an article about how cfk had increased spending by almost 23 percent of the annual budget...at HER discretion. Sounds like a dictator to me....and an idiot at that.
7 Monkeymagic (#) Aug 02nd, 2014 - 11:50 am Report abuse
She is inept, arrogant and incompetent.

She is also a liar, a fraud and corrupt.

However she is the elected head of state for Argentina and as such is the figurehead of the country.

It would appear the personality of the nation is well represented by its head of state.
8 cornelius (#) Aug 02nd, 2014 - 12:22 pm Report abuse
Yes is true but what about Dilma and their cabinet the same applies tom them !
9 Lucdeluc (#) Aug 02nd, 2014 - 12:33 pm Report abuse
7. Yep. Our politicians are in fact indicative of the people they represent.
Maybe some sections of society shouldn't be allowed to vote.
10 yankeeboy (#) Aug 02nd, 2014 - 01:18 pm Report abuse
9. Anyone that receives a Net Gov't Payout should not be allowed to vote. That would fix most if not all of the world's ills.
11 ilsen (#) Aug 02nd, 2014 - 02:07 pm Report abuse
Good to see these kind of headlines from an often compliant media.
12 Jack Bauer (#) Aug 02nd, 2014 - 02:14 pm Report abuse
“”This despite the fact Brazilian economy minister Guido Mantega denied Argentina was in default and strongly supported the Argentine government“.....Saw the flabby-mouthed idiot on the news last night, trying to - unconvincingly - tell everyone that Argentina was not in default....and this twit in in charge of Brazil's economy.

”Brazil is Argentina's main trade partner and for Brazil the most important behind China, EU and US”.....
An interesting observation, and the reason why the US, from being Brazil's main trading partner about 10 years ago, to just 'another' trading partner today, goes back to Lula's 2nd term, when trade between the 2 countries was dwindling swiftly due to the Brazilian Government's gross ineptness. I clearly remember Lula's speech on TV, explaining why the USA was irrelevant - to him - and how Latin America and Africa were the future. This was simply a farce, as he knew damned well that the leaders from the more developed countries knew him for what he was...an ignorant, bumbling idiot who believed (and still does) he's God's gift to Brazil ... and he didn't want to have to deal with them.
13 malen (#) Aug 02nd, 2014 - 02:23 pm Report abuse
Always China firstttttttt to trade..........they dont bother so much as others do
14 reality check (#) Aug 02nd, 2014 - 02:43 pm Report abuse
Try screwing them over and you will see their real face!

You'll be lucky if they settle for just chopping your hands off!!!!!
15 yankeeboy (#) Aug 02nd, 2014 - 02:58 pm Report abuse
13. The Chinese Yuan infrastructure loans went POOF right along with the default.
They say expect -3% decrease in GDP this year.

It is so hard to predict what Stagflation will do to the inflation number. Its -/-70% in Venezuela. If they devalue again before the eoy ( chances are good) it may just get up there this year.
Wouldn't that be fun to watch.
16 tallison46 (#) Aug 02nd, 2014 - 02:59 pm Report abuse
CFK and company can't stand the rule of law when they can't manipulate the law. They knew or should have know this day would come and they had years to prepare for it.. When you make debts you will pay at some point or suffer the consequences.
17 Brasil .1 (#) Aug 02nd, 2014 - 05:32 pm Report abuse
South America through UNASUR must immediately expel all Western diplomats.
BRICS should immediately withdraw the 4 trillion dollars deposited at the Fed.
18 gordo1 (#) Aug 02nd, 2014 - 05:38 pm Report abuse
And so say all of us, and so say all of us for she 's an ”inept, arrogant and incompetent” woman and so say all of us!
19 chronic (#) Aug 02nd, 2014 - 05:41 pm Report abuse
I think Cretina got off pretty lightly in the Brazian press - but poor Elvis Kissoff - his allure is fading before he even throws his hat in the ring. No El Presidente for you!
20 Briton (#) Aug 02nd, 2014 - 05:51 pm Report abuse
Did we hear this correctly,
Brazil-Argentina's closes and bestes friend going against her ????

CFK would turn in her grave--if she was dead.??
21 Brit Bob (#) Aug 02nd, 2014 - 06:01 pm Report abuse
The headline says it all. The facts are clear, RG land is in default. Well done CFK and Co. Shame you can't do another 4 years and finish the job. Perhaps hilarious Hector should be given the chance...
22 Merchant of Death (#) Aug 02nd, 2014 - 06:14 pm Report abuse
A country's electorate gets the politicians it deserves. E.g., the Deadbeat Republic of Defaulters got CFK. But in fairness to our friends in the Land of Silver (whose Treasury consists of nothing more than a Beggar's Tin Cup), my country's geniuses RE-ELECTED BHO to a 2nd Term.

Again, we (the collective “we”) get what we deserve. Neither country could've chosen more wisely.

On a related matter, I completely agree that the reason that our electorate continue voting these Socialists into office is that they have no skin in the game.

Anytime that the bottom 51% of the electorate is asked how they feel about taxing the top 49% (i.e., voters that work, that pay taxes, that have a genuine stake in their country's future) out of existence, literally and figuratively, your country is nothing more than a 3rd world cesspool waiting for the House of Cards to come falling down.

Or phrased differently, any country that relies on robbing Peter to pay Paul can be expected to have the full support and backing of Paul.

The only way to stop electing these morons (e.g., CFK & BHO) into office is to allow the privilege of voting ONLY to NET taxpaying citizens, those who pay more into the Treasury than they suck out of it (taxes paid INTO the IRS minus welfare checks taken FROM the government). Then and only then will we have politicians that stop blaming “vultures” from ”wanting more than their 'fair share' (whatever the hell that means).

'Nuff said.

MoD
23 Don Alberto (#) Aug 02nd, 2014 - 06:37 pm Report abuse
Argentina is NOT in default, it's only all the rating agencies and the financial world in general who says so, but what do they know about finances?

Cristina knows: “Impedir que alguien pague no es default”
Economy minister Kicillof knows: “there’s no default, we’ve paid”

It's like this www.youtube.com/watch?v=zKhEw7nD9C4&t=2m07s

Standard & Poor's earlier Wednesday said Argentina was in “selective default” for failing to pay bondholders.
Argentina Put Into Selective Default by Standard & Poor's
www.nasdaq.com/article/argentina-put-into-selective-default-by-standard--poors-20140730-01652

Moody's changes Argentina's outlook to negative as default will hasten economic decline
www.moodys.com/research/Moodys-changes-Argentinas-outlook-to-negative-as-default-will-hasten--PR_305436

Fitch downgrades Argentina to ‘restricted default’
“The agency downgraded Argentina from “CC” to “RD” and also lowered Discount bonds rating from “CCC” to “D”, arguing Argentina “has not been able to attend payment of Discount bonds and according to Fitch criteria this constitutes a non-completion.””
www.buenosairesherald.com/article/165973/fitch-downgrades-argentina-to-restricted-default
24 reality check (#) Aug 02nd, 2014 - 07:10 pm Report abuse
You obviously did not read the speech made by the Argentine Deputy Economy Minister!

ARGENTINA ALWAYS WINS.

Jesus Christ, where do they get these people from, they obviously have a plethora of them, because they have been doing it for decades!!!!!!!!!!!
25 BOTINHO (#) Aug 02nd, 2014 - 09:45 pm Report abuse
Two good articles by O GLOBO e FOLHA DE SAO PAULO, and my sentiments and those of my neighbours exactly. This set of article mirrors the 16.04.2013 “ A ECONOMIA PINOCHIO ” cartoon on CFK by VEJA and reprinted here on MERCOSUR PRESS last year.

CFK and her cabinet cannot govern a nation, resorting to outright lies to somehow explain how inept they actually are. “ I've already paid . . la, la, la ” and off into another slurp of Yerba Mate, and perhaps whatever Mr. Morales has given her from the Andes.

Thank You MERSOSUR PRESS for printing this article.
26 ilsen (#) Aug 02nd, 2014 - 10:25 pm Report abuse
There is no solidarity in Latin America. This is a myth. Argentina's neighbours will stand aside and watch them sink.
I will stand by this statement. Let the trolls prove me wrong.
27 Brit Bob (#) Aug 03rd, 2014 - 05:09 am Report abuse
@21. It's called propaganda. They can't escape from the cheating and lying.
28 Enrique Massot (#) Aug 03rd, 2014 - 06:12 am Report abuse
Oh yeah big deal O Globo and Folha criticized the Argentina government and call Cristina names! You don't have to go as far, just read Buenos Aires' Clarin, La Nacion or La Prensa and you get lots of the toxic stuff in the local tongue!
Confusing O Globo with Brasil obviously feeds the slanted opinions of many, however from time to time take a minute and read “the other side of the story” so you don't delude yourself. It's called multiple source information and won't give you the hives--guaranteed.
29 golfcronie (#) Aug 03rd, 2014 - 07:28 am Report abuse
@25
I think Cristina and Hector are doing the Argies an enormous favour, they are affectively showing the whole of Latam counries how not to run a country and economy and incidently how diplomacy is key.
30 Lucdeluc (#) Aug 03rd, 2014 - 10:19 am Report abuse
Argentinian obstinance may give an overriding hope to the dispossessed of the world.
31 ilsen (#) Aug 03rd, 2014 - 11:03 am Report abuse
@27
I don't think so. However it may highlight the incompetence of their own administrations.
32 yankeeboy (#) Aug 03rd, 2014 - 11:09 am Report abuse
27. Like Chavez did?
Bahahaha

You are a brainwashed fool.
33 Lucdeluc (#) Aug 03rd, 2014 - 12:31 pm Report abuse
Fool is as fool does
34 Captain Poppy (#) Aug 03rd, 2014 - 04:21 pm Report abuse
#17 yes, yes your BRICS head do that and invest it in Argentina and take all 5 trillion of exports to the USA of your 21 trillion GDP and have Argentina make up the loss for the US market.

BTW......the combined debt holding are under 2 trillion.

China 1.270 trillion
Brazil .250 trillion
Russia .111 trillion
India .70 trillion
South Africa .15 trillion

What does that add up to in your math? Again take it and leave and take your exports as well. Politics is a bit more complicated than the idiots who run Argentina realize. The world is more interwoven then you will ever comprehend. One action will always affect another action, something Kirchner still does not understand and why you are a poorly educated serf and will always be that way.
35 Corvus corax (#) Aug 03rd, 2014 - 06:03 pm Report abuse
Well done Christina. You've dropped your country well and truly in it.

Thanks for proving yet again that when Argentina is near financial ruin, that the best thing to do as President is to bleat the 'Las Mal Vinas' line...

Oh yes. Also an award for your hilarious diplomacy, esp. in regards Alicia Castro, who should do the stand up comedy circuit instead.

Unfortunately, it's the ordinary Argentines that are going to suffer for all this...
36 cornelius (#) Aug 03rd, 2014 - 09:08 pm Report abuse
@17 are you stupid the Brics exist because of the US. you are a moron I can see that.
37 BOTINHO (#) Aug 03rd, 2014 - 10:12 pm Report abuse
Ola Cornelius -

This is the “on with the revolution” set in Russia, Venezuela, Bolivia, Cuba, and elsewhere that has long espoused dumping the dollar, and then bringing the US to wreck and ruin somehow immediately.

The same children that sit outside the Ecuadorian Embassy in London with signs and placards, Che T-shirts, granulating themselves on how they became worthy and True Revolutionaries by dumping Starbucks over Costa Coffee for Lattes.

As Mr. Assange once stated, “ How will they then submit ? ” In short, it won't happen. They won't.

Venezuela under Chavez, and advised by the Castro oligarchy ( 1959-2014 ), tried it using petroleum distillates as a blackmail weapon with North America: Look where it got them, as the US surges ahead to process and export it's own oil.

Long on dull, boring rhetoric and slogans, short on practical education.

Come to think of it, that sounds just like Sr. Elvis Axel last week.
38 toooldtodieyoung (#) Aug 03rd, 2014 - 10:19 pm Report abuse
Cristina Fernandez, “inept, arrogant and incompetent”

Cristina Fernandez IS inept, arrogant and incompetent

but on the other hand, she does have a great singing voice.........
39 Jack Bauer (#) Aug 03rd, 2014 - 11:05 pm Report abuse
@34 Captain, & @6 Cornelius : by the brainless rhetoric @17, isn't it obvious that this asshole is the “Brasileiro” under a new name ?.....he has been identified as a muzzie, thus his hatred of Israel, and he hates all the more advanced western countries, reason why he defends the incomPeTent PT government in Brazil....he can change his name as many times as he wants, but the characteristic stupidity of his remarks will always betray him.
40 Tik Tok (#) Aug 04th, 2014 - 03:10 am Report abuse
Just prey to high heaven that the coming bust in Argentina will trigger more rational thinking Governments in surrounding countries. Hoping that Brazil reject the populist policies of current PT party in the coming elections, Mantega and Rousseff tell their share of porkies too, at least with free press in Brazil they call it how it really is.
41 BOTINHO (#) Aug 04th, 2014 - 06:24 am Report abuse
Oa Tik-Tok-

That is quite true about having a good history of a free press in Brasil.

In countries like Venezuela, etc. that employ the Cuban model, there is no freedom of speech, let alone a free press.
42 Jack Bauer (#) Aug 04th, 2014 - 02:25 pm Report abuse
@40Tik-Tok, @41 Botinho : I suppose you might say that over the last 100 years or so, the period which matters to us tooday, Brazil has generally enjoyed a free press, with the exception of a few short periods, as far as history is concerned. Although today, the press is 'officially' free, it is only 'relatively' free . Under the PT, a veiled censorship - and sometimes 'not-so-veiled' - has been systematically applied to those who have had the courage to openly denounce the dirt that goes on behind the scenes in Brasilia. Just to get an idea, how many journalists have been told to shut-up, have lost their jobs, been persecuted, just for having the told the truth ?? Arnaldo Jabor for one, Ricardo Boechat for another, and the list goes on, by no means small. Remember the American journalist, that Lula tried to get expelled from Brazil, because he exposed Lula's penchant for getting drunk ? It didn't work because the jounalist had a brazilian wife and child...
The latest 'intervention' in the free press , or rather the freedom to express one's ideas or opinions, is the case of the Banco Santander....did the analist tell a lie ? no, he just wrote what he, and many others had already observed with regards to the performance of the stock exchange , depending on the polls showing Dilma's chances of winning the elections...the analist has been sacked, the bank apologized, and Dilma, although not personally attacked, is looking for a way to sue the bank....you call that freedom of speech ? hardly. The fact is that the PT has a group of 'watchdogs', looking to hush up any news unfavourable to their image, and it is a known fact that the press in general, be it written or televised, is paid off to keep the criticism against the government to a minimum. If the Brazilian press were as vocal about Dilma and the PT government, as they are with CFK, it would benefit us greatly.
43 Tik Tok (#) Aug 04th, 2014 - 03:53 pm Report abuse
Yep - Santander situation was disgraceful, tell the truth and you get your marching orders. A very slippery slope.
44 Clyde15 (#) Aug 04th, 2014 - 04:25 pm Report abuse
#24
ARGENTINA ALWAYS WINS. This is a misquote it should be
”ARGENTINA ALWAYS WHINES
45 BOTINHO (#) Aug 04th, 2014 - 10:58 pm Report abuse
Ola Jack-

Yes, I recall the incident with Lula, and his love for a Caipirinha or five. It is after all our national drink of choice.

Air Force One is still thought of affectionately as Air Force 51 today. ( for those missing the pun, Pirassununga Cachaça, the most popular and least expensive Cachaça, is more commonly known as Cachaça 51 ).

The Santander mistake is easy to understand. For years we had accounts with Banco Real, until Santander took over and management slipped. The economy improving, we moved to Banco Itaú, and elsewhere, leaving the Spanish-owned Santander behind, despite their many public comments on how much they wanted to do business in Brasil, and how much they were planning to invest here. But we were not the only ones seeing through this and moving our accounts.

Then comes the recent Santander analyst statement you mention, essentially and publically covering bets from both sides of the coming 2014 October elections . Opa !

A rather stupid statement under the circumstances, especially when publicized, and ahead of our elections, which elsewhere in the world, would have infuriated Merkel, Obama, Cameron, under similar circumstances.

Had this been written by Veja, or O Globo, it would be expected, and a non-issue, coming from the free press. But it came from Santander, the eager Spanish businessman and investor and behind the scenes, Santander will have to do more to make up for this, as one head will not be enough.

Had this been Venezuela, the Ambassador of the Spanish Court would have been declared persona non-grata, the embassy closed, and Santander investments confiscated for insulting the ruling Fat Boy of the Fatherland.
46 Enrique Massot (#) Aug 05th, 2014 - 05:05 am Report abuse
Someone attempts to change the established order and resist the powerful, and you hear the chorus of lamentations calling for a return to normality, which of course is THEIR normality, that of the powerful stepping on the less fortunates' heads.
But make no mistake: nothing will be the same in Argentina after the Kirchners. You can't turn the clock back after so much change.
The Argentine people finally feel well represented and support their government's position in the Singer-Griesa-default incident. Far are the times of the blindaje and the megacanje.
Kicilloff for president in 2015.
47 Philippe (#) Aug 05th, 2014 - 05:45 am Report abuse
Noted that leading Brazilian newspapers are also by far the best in Latin America.

Philippe
48 Enrique Massot (#) Aug 05th, 2014 - 05:49 pm Report abuse
You may disagree with Cristina's way of governing, but calling her “inept, arrogant and incompetent” reeks of ideological hatred rather than good journalism--there is much better than that in Latin America!
49 BOTINHO (#) Aug 05th, 2014 - 08:08 pm Report abuse
Enrique -

Obviously, if this was a Clarin periodical, those comments would never have been published, let alone seen the light of day. Is that what you refer to as “ good journalism ? ”
.
Actually comments here now are much worse, with the term prevaricação, or malfeasance / misconduct being used to describe our Southern neighbor.

The simple question is why is Argentina, our former powerhouse and grainery / bread basket of Latin America, doing so poorly ?
50 Captain Poppy (#) Aug 05th, 2014 - 09:26 pm Report abuse
#48 telling people to eat pork is good for your sex life? That reeks competence right? She's fucking nuts!! ANd why does she not give press conferences like the rest of the world leaders? OIh yes.....that Harvard disaster.
51 ilsen (#) Aug 05th, 2014 - 10:01 pm Report abuse
@ 41 & 42
Today is a very sad for independent press in Venezuela. The previously highly respected and noble El Universal has finally been bought by Chavista Boligarchs.

panampost.com/marcela-estrada/2014/08/03/venezuelas-el-universal-follows-up-mass-purge-with-in-house-censorship/

I personally feel very sad about this. First the tv stations went, now they have conquered the last true bastion of the intelligent, free and balanced print media in Venezuela.
A tragedy.
Hopefully El Nacional will continue, if not, that is the end for established independent media in Venezuela.
A truly dark night has come to pass.
52 Enrique Massot (#) Aug 05th, 2014 - 10:07 pm Report abuse
If you want to criticize Cristina go ahead. She is a politician after all, has a thick skin and is liable to make mistakes. I still will take her anytime with all her mistakes over Paul Singer, Thomas Griesa or any other bird of the ilk.

However, I find it questionable that O Globo dares to qualify the hedge funds as “usual and necessary actors in world markets, since they help to give liquidity to bond rejected by investors”. How far can hypocrisy go?

In fact, comparing the holdouts to vultures is not totally fair. Real vultures actually play a useful role in Nature, by cleaning carcasses and reducing contamination. The financial vultures, on the other hand, are Robin Hoods upside down--taking from the poor and giving to the rich.

In any event, keep watching what unfolds.

Each day, this Argentina incident (the default tale is rapidly deflating) is showing the nonsense of a system that allows a handful of greedy financiers with a well-developed strategy using the courts to ransack the most vulnerable countries.

Although they easily fleeced Peru, Zambia, Liberia and threaten many other African countries, Argentina has revealed a different animal. Paul Singer is going to have to learn how to tango, my friends.
53 Jack Bauer (#) Aug 06th, 2014 - 12:59 am Report abuse
Olá Botinho@45...I see no reason why the Santander incident should be treated in any way differently to a report in Veja , or any other financial / political publication....the fact remains that the bank simply stated what many people had already noticed, specially those involved in the stock market.....and, considering that the Santander report only circulated to a universe of no more than two thousand clients of the bank, it shouldn't have caused such a reaction, except for the fact that, the PT does not take criticism well....in fact, they will always lie their way out of any financial scandal.....and that has been pretty obvious in recent years....
54 BOTINHO (#) Aug 06th, 2014 - 02:42 am Report abuse
Ola Jack -

The reason is that the CEO of Santander made glowingly positive public recent promises and commitments to the current President of Brasil. As I recall that article was also reported here on Mercosul/Mercosur press.

You can discuss things in quiet, but if you are investing in a country as an outsider, you don't publically “ bite the hand that feeds you ”, or step on her toes, especially the President.

Not limited to the PT, and not only here: Em todo mundo.

With the exception being Argentina.
55 Jack Bauer (#) Aug 06th, 2014 - 04:52 pm Report abuse
While - if I'm not mistaken - the news buletin circulated by the Santander was a restricted report, to only a few thousand clients, I believe the bank - or any other bank for that matter - has the obligation to warn its clients on market tendencies or regarding political factors which may influence - positively, or negatively, the value of their investments. The fact that it leaked to the press and when it did it created the problem, is another story, which again, under a less radical government, would have probably been shrugged off....by the publicity the PT gave the fact, it has done them more harm than good.
56 BOTINHO (#) Aug 06th, 2014 - 06:39 pm Report abuse
Jack-

Immediately following the incident:

www.laht.com/article.asp?CategoryId=14090&ArticleId=2345913

Now they are speaking again, minus one head. Leverage.
57 Jack Bauer (#) Aug 06th, 2014 - 10:55 pm Report abuse
So Santander Brasil and the PT are in love again....the government authorizes Santander to make a JV with Bonsucesso, to make an enormous profit from this payroll-lending business, and in return a head gets chopped off....nice...
58 BOTINHO (#) Aug 07th, 2014 - 01:36 am Report abuse
It cost only one head.
59 Jack Bauer (#) Aug 07th, 2014 - 03:31 pm Report abuse
Yeh, but it wasn't your head, it wasn't my head, it was some poor bastard's head who believed he was doing his job.....while most people would only consider that collateral damage, the bigger picture is what we should be concerned with, and is the fact that this can actually happen (through government pressure), and no one really gives a damn, or realizes, that our freedom to speak out is being surreptitiously curbed...
60 BOTINHO (#) Aug 07th, 2014 - 09:31 pm Report abuse
Jack-

I see your point Jack, but that happens monthly it seems, worldwide.

“ Pisou na bola. ” Do not step on “politically sensitive toes, ” especially if you want to business, pass legislation, obtain a permit, etc. What happens Jack if you insults the PF or DETRAN in some fashion ?

In North America once, a Canadian who had worked in Brasil, stated to me that in his opinion Brasilians could be very easily insulted. We both know that is true, and not only of the social elites in Sampa and Rio. We are not the cool, calm, and collected Finns, Swiss, or Swedes.

Back to the incident involving the Santander block-head:
Frankly, I doubt if a valuable person such as the Santander employee in question who stepped out of line, was actually fired (unless he was a consultant ). Usually when confronted by such an insult, any large corporation states loudly that they have taken steps and “ eliminated ” the problem, apologizes to the point of laying down flat and being walked all over repeatedly, and then quietly transfers the offender to another department, or branch of business, or country.

And all the while continues to go about doing business, or whatever they do.

Does the name Antonio Patriota come to mind ?
61 Jack Bauer (#) Aug 07th, 2014 - 10:58 pm Report abuse
@60, Hi Botinho, I'm well aware that the world is not a fair place, and shit happens....but wouldn't it be nice to know that you, a taxpaying citizen, had the right to speak your mind without some SOB government telling you that you cannot exert your rights ?? In a democracy, all people are supposed to be equal, the problem being, that in government, people act as if they were “more” equal...
Now getting back to the Santander incident, today I read a link to a report in the Folha ; this is it, below :
www1.folha.uol.com.br/poder/2014/08/1496857-santander-demitiu-quatro-por-informe-que-irritou-petistas.shtml
Apparently 4 employees reportedly got the boot, and Santander bent over backwards to please the PresidANTA...if there is any truth in it, or even partial, it still stinks...as do most things when the government is involved.
As to Antonio Patriota, I remember well that he was sacked from his post of Minister of Foreign Relations about a year ago, for allowing a Bolivian senator into Brazil ilegally, in order to escape prosecution in Bolivia... Dilma got pissed-off because this affronted her pal, Evo Morales ; Quite frankly I never liked Patriota, and even if for a dubious reason, it was good to see the back of him....but true to dirty politics, he resurfaced 2 months later, as Brazil's representative at the UN in NYC...Let's see if the Santander employee (or employees) will have the same “luck”...
62 BOTINHO (#) Aug 08th, 2014 - 01:52 am Report abuse
Certo.

Vamos aguardar. ( Let's wait and see ).
63 Jack Bauer (#) Aug 08th, 2014 - 05:37 pm Report abuse
Right on (é isso aí).....on the other hand, I think it's highly unlikely that whatever happens to the Santander employees will ever come to light ...unless, Dilma is defeated.

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